Jefferies Group Weighs in on Kirby Co.’s FY2017 Earnings (KEX)

Kirby Co. (NYSE:KEX) – Equities researchers at Jefferies Group issued their FY2017 earnings estimates for shares of Kirby in a report issued on Monday. Jefferies Group analyst R. Giveans forecasts that the shipping company will earn $2.05 per share for the year. Jefferies Group has a “Buy” rating and a $85.00 price objective on the stock. Jefferies Group also issued estimates for Kirby’s Q4 2017 earnings at $0.54 EPS and FY2018 earnings at $2.40 EPS.

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A number of other analysts also recently commented on KEX. BidaskClub raised shares of Kirby from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Stifel Nicolaus restated a “hold” rating and set a $67.00 target price on shares of Kirby in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $75.40.

Shares of Kirby (KEX) opened at $65.60 on Wednesday. The company has a market cap of $3,901.20, a PE ratio of 30.97, a P/E/G ratio of 4.08 and a beta of 1.04. Kirby has a fifty-two week low of $59.25 and a fifty-two week high of $74.50. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36.

Kirby (NYSE:KEX) last released its quarterly earnings data on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $541.30 million for the quarter, compared to the consensus estimate of $517.54 million. Kirby had a net margin of 5.88% and a return on equity of 4.48%. The firm’s revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 earnings per share.

Institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. acquired a new position in Kirby during the second quarter worth about $344,000. Neuberger Berman Group LLC raised its position in Kirby by 0.7% during the second quarter. Neuberger Berman Group LLC now owns 1,023,373 shares of the shipping company’s stock worth $68,412,000 after acquiring an additional 6,643 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new position in Kirby during the second quarter worth about $1,083,000. Northern Trust Corp raised its position in Kirby by 4.8% during the second quarter. Northern Trust Corp now owns 500,297 shares of the shipping company’s stock worth $33,444,000 after acquiring an additional 22,956 shares during the last quarter. Finally, Koch Industries Inc. acquired a new position in shares of Kirby in the second quarter valued at approximately $216,000. Institutional investors own 96.58% of the company’s stock.

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Kirby Company Profile

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.